Section 11-57-14 Bonds - Negotiability.
Section 11-57-14
Bonds - Negotiability.
All bonds issued by the authority, while not registered, shall be construed to be negotiable instruments even though they are payable from a limited source. All coupons applicable to any bonds issued by the authority, while the applicable bonds are not registered as to both principal and interest, shall likewise be construed to be negotiable instruments although payable from a limited source.
(Acts 1961, No. 895, p. 1407, §19; Acts 1961, Ex. Sess., No. 289, p. 2335, §19.)